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Banking and Monetary Studies

BANKING

AND

1963

THIS VOLUME IS A PROJECT OF THE
DEPARTMENT OF BANKING AND ECONOMIC
RESEARCH, OFFICE OF THE COMPTROLLER
OF THE CURRENCY

MONETARY
STUDIES

Edited by

DEANE CARSON

Associate Professor of Economics, Brown University
and Senior Economist,

Department of Banking and Economic Research

Office of the Comptroller of the Currency

Published by

RICHARD D. IRWIN, INC.

HOMEWOOD, ILLINOIS

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1963 BY RICHARD D. IRWIN, INC.

ALL RIGHTS RESERVED. THIS BOOK OR ANY PART
THEREOF MAY NOT BE REPRODUCED WITHOUT
THE WRITTEN PERMISSION OF THE PUBLISHER

First Printing, September, 1963

PRINTED IN THE UNITED STATES OF AMERICA

Library of Congress Catalogue Card No. 63-22392

THE WHITE HOUSE

WASHINGTON

It is fitting that the centennial year of the National

Banking System should be marked by the publication of this volume of essays, written by distinguished economists, and devoted to historical and contemporary monetary problems, institutions and policy. These essays constitute a permanent tribute to the essential wisdom of the framers of the National Currency Act of 1863, to the outstanding record of Federally-chartered banks in responding to the demands of rapid economic change over the past century, and to those who have been responsible for the flexible regulation of these banks in the public interest. They also serve to remind both bankers and public officials that change is a never-ending process which calls for continuing improvements in our National Banking System to adapt it to the challenges of its second hundred years.

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